Women in Start up Entrepreneurship and Investments

When examining all active high-tech companies²The analysis only includes technology companies from the IVC database. in Israel where the CEO’s gender is known at the time of this report, 750 companies are led by female CEOs, representing 9.3% of all company executives.

An examination of women’s entrepreneurship in Israel compared to leading global hubs reveals significant room for improvement. The ratio of female CEOs who managed a startup in Israel between 2013 and 2024 stands at just 10.6%, a low figure in global comparison to other innovation hubs, according to an analysis conducted for the Israel Innovation Authority by Startup Genome. The ratio of female founders out of all entrepreneurs establishing a startup in Israel during the past 30 years is 15%.

Israel’s ratio of female startup CEOs is higher only than that of Seoul. In New York, female CEOs comprise 18.6% of startup CEOs, making it a global leader in women’s entrepreneurship. In Sydney, Stockholm, Los Angeles, and Boston, the ratio of female CEOs is more than 50% higher than that in Israel.

In other words, the ratio of capital raised by women-led startups is relatively low compared to their overall share among startups founded in the past decade.

An analysis of the capital raised by women-led companies according to funding round size, shows that in smaller rounds -up to $10 million – the relative share of women is higher, standing at 8.8% of the total capital. In rounds between $10 million and $50 million, the ratio of women-led companies drops to 4.7% of the capital raised, and in rounds exceeding $50 million, it declines further to 3.2%. The ratio of women in later-stage fundraising is expected to increase in the next few years.

Another dimension reflecting the gender gap in the startup sector is the average fundraising round size of Israeli technology companies with male and female CEOs. No difference was found in the average capital raised by male and female CEOs in fundraising rounds up to $50 million between 2021-2024. In rounds up to $10 million, female CEOs raised an average of $3.2 million, while male CEOs raised $3.6 million. In rounds between $10 million and $50 million, female CEOs raised an average of $23.5 million, compared to $23.9 million for male CEOs.

However, in fundraising rounds exceeding $50 million, significant differences were recorded in the average fundraising round size between male and female CEOs: female CEOs raised an average of $92.7 million, while male CEOs raised an average of $127.4 million, nearly 40% more.

Ultimately, an analysis of total capital raised by women shows that female-led startups raise less money on average compared to male-led startups. Their relative share of total investments in startups (4.3%) is less than half their share of fundraising rounds and startup formation (7.9% and 10.6%, respectively).

An examination of the fields of activity of technology companies founded between 2013 and 2024 that are led by female CEOs reveals a significant concentration of women in two primary fields: 26.2% of these companies are in the enterprise software sector, and 19.5% are life sciences companies.

Other notable sectors in which female CEOs lead startups include e-commerce, content and media, agri-tech, food and water technologies, and fintech. There appears to be no significant change in the distribution of sectors compared to the data presented in the 2022 report.³Company classification was based on the IVC database. The methodology for categorizing companies and the available data for each company have changed compared to the 2022 report. For comparison purposes, companies founded between 2010 and 2021 were reclassified according to the updated methodology and data.

• Startup Sectors with the Lowest Female Representation: Communications, Energy, and Smart Transportation

Another analysis examined the ratio of female CEOs among all CEOs in companies founded in each sector between 2013 and 2024.

A variance was identified in women’s representation across the various sectors. While on average across all sectors, women lead 10.6% of startups founded in this period, their highest representation is in life sciences, where they comprise 14.9% of the CEOs. In content and media and enterprise software, their ratio is slightly above the general average, standing at 11.7% and 11.2%, respectively.

In contrast, there are several sectors in which the ratio of female CEOs is extremely low, highlighting a significant underrepresentation of women. In communications, women comprise only 2% of CEOs in companies founded during the examined period. In energy companies, they comprise 3.7%, in smart transportation, 4.3%, and in defense technologies (defense tech), 4.5%.

In two sectors at the forefront of Israeli entrepreneurship – fintech and cybersecurity – the ratio of female CEOs remains low. In cybersecurity, 5.1% of the CEOs are women, and in fintech, 7%.

• One-Fifth of Partners in Israel’s Large Active Venture Capital Funds Are Women

Men continue to occupy most of the decision-making positions in Israeli venture capital (VC) funds regarding startup investments. Only 20.8% of the partners in Israel’s large active VC funds are women.

A review conducted in February 2025 examined the gender distribution of partners in the 53 largest and most active VC funds in 2023.⁴The analysis was conducted between January and February 2025 and included a sample of 53 funds, based on the IVC-GNY-KPMG investors report. The funds examined were those ranked among the most active and those with the largest investment portfolios, recognizing that these funds have the greatest influence on Israel’s entrepreneurial ecosystem. The list includes Israeli VC funds and foreign funds with local offices or partners responsible for investments in Israel, out of an understanding that these partners’ gender impacts gender equality in Israel’s startup ecosystem. The sample includes 26 large Israeli funds (managing over $200 million), 7 medium-sized funds (portfolio of $50– 200 million), 8 small funds (under $50 million), 5 foreign VC funds with a presence in Israel, and 7 CVCs (corporate venture capital funds) (including one Israeli CVC). Out of 240 partners in these funds, only 50 were women. This represents an increase from 16.5% in a similar review conducted in 2022, indicating some improvement.

Additionally, an examination was conducted regarding the number of the funds’ female partners. The findings show that as of 2025, 39.6% of VC funds have no female partners. An equal ratio of the funds have just one female partner, while about 20% of funds have two or more female partners.